Yes Bank provides different kinds of accounts based on your needs. To open a Yes Bank account, it is important to know if you can open the account and have the documents available. This article covers the information needed to open a Yes Bank account:

• Types of account: Find out more about the different types of accounts provided by Yes Bank.
• Yes Bank account opening process: Learn how to open Yes Bank account online and offline.
• Minimum Balance: Know the minimum balance required to keep your account active.

What is a Yes Bank Account Opening?

Yes Bank offers various accounts customised according to the requirements of various segments of society. Opening an account in Yes Bank allows individuals and businesses to deposit their money and access exclusive benefits, offers, and discounts. Additionally, Yes Bank allows managing accounts online anytime, anywhere.

Features and Benefits of Yes Bank Account

Yes Bank accounts offer a range of advantages to help you manage and grow your savings effectively:

• You will receive an ATM card with access to a large network of ATMs across India. You can also opt for international cards for global transactions.
• The Yes Online service of the bank lets you monitor and manage your account from anywhere with internet access. You can view account summaries, statements, and fund transfers. Additionally, you can pay bills, request drafts, open new accounts, and register for SMS alerts.
• You can avail of a free NEFT or RTGS payment facility through net banking.
• The bank provides free utility bill payments for registered billers via net banking.
• Under the YES Rewardz Loyalty Programme, you get reward points for travel, shopping, recharge, and movies.
• You get free Demat accounts and insurance coverage for certain salary accounts.
• You get an interest of up to 7% per annum on your savings account deposits.

Types of Yes Bank Account Opening 

Yes Bank offers a variety of savings accounts tailored to different financial needs. Here is a breakdown of the different accounts you can open in Yes Bank:

Savings Account

A Savings account provides you the option to store money and earn an interest of up to 7% per annum. Yes Bank provides the following types of savings accounts:

• YES PRO Max Savings Account: This account is a lifestyle upgrade account packed with exciting rewards, exclusive benefits and convenient tools to maximise savings.
• YES PRO Plus Savings Account: This account combines high returns with exciting perks, such as a complimentary debit card loaded with offers for shopping, lifestyle and BookMyShow, discount on locker rentals and demat annual maintenance charges, etc.
• YES Essence Savings Account: This is exclusively crafted for women, catering to their unique financial needs and aspirations.
• YES Respect Savings Account: This account is exclusively for senior citizens, providing various benefits and a dedicated partner to give a tailored banking experience. 
• MY First YES Savings Account: This account is crafted for minors to initiate children into banking and foster the habit of savings. It is an ideal choice for parents to manage their child’s finances.
• YES PRO Savings Account: This account requires a low monthly balance and offers competitive interest rates, value-added services, and rewards.

Zero Balance Savings Account

The Pradhan Mantri Jan Dhan Yojana (PMJDY) Account is the zero-balance savings account offered by Yes Bank. This account does not require any minimum balance to be maintained in it. It provides a higher return on account balance, a RuPay debit card, and accident insurance coverage of 2 lakh.

Digital Savings Account

A digital savings account can be opened instantly online without visiting the bank to submit KYC documents. It is paperless with a video KYC facility and a virtual debit card. Two types of digital savings accounts are offered by Yes Bank, which are as follows: 

• YES Digital Savings Account: This account can be opened instantly online with video KYC. It provides a complimentary virtual debit card and can be operated through online modes, such as the mobile banking app and the internet banking portal.
• YES Digital Savings Account - Limited KYC: This account can be opened online with minimal identification and verification. It offers an instant virtual debit card with basic banking services but has lower transaction limits and limited access to certain features compared to a fully verified account. 

Salary Account

A salary account is customised to fulfil the requirements of corporate employees and defence personnel in India. These accounts do not need any minimum balance requirement, provided the salary is credited to the account every month. If the salary is not credited for a continuous period of three months, it will converted to a regular savings account. Here are the different types of salary accounts:

• Smart Salary Exclusive: This account provides various benefits, such as a free Demat account, a complimentary debit card loaded with offers and attractive interest rates on the salary account.
• Smart Salary Platinum: This account provides exclusive privileges, such as attractive interest rates, a free Demat account, Yes Rewards for all banking transactions and unlimited free ATM transactions.
• Smart Salary Platinum Pro: This account offers a unique salary proposition that combines lifestyle and wellness benefits with best-in-class banking solutions. It offers free brokerage on trades of up to Rs. 25 lakhs, a discount on Demat AMC, and locker rentals.
• Women Salary Account: This account is customised for salaried women and offers benefits such as complimentary personal accident coverage, Yes Rewards for banking transactions, preferential pricing on YES Bank Demat account opening, and preferential pricing on loan products.
• YES Honour Platinum: This is an exclusive salary account for Government employees. It provides privileges, such as personal accidental insurance coverage of Rs. 20  lakh, lump sum amount of Rs. 1,000 for 15 days paid for hospitalisation due to an accident and Visa debit card for with shopping and lifestyle benefits.
• YES Honour Exclusive: This is a salary account for Government employees, offering free banking at the branch and digital channels, personal accidental insurance coverage of Rs. 20 lakh, air accidental coverage of Rs. 1 crore, education cover of Rs. 2 lakh, home and vehicle modification coverage of Rs. 50,000 and more.
• YES VIJAY Advantage: This account is for the Defence Forces. It provides personal accidental coverage, an exclusive wealth management programme for senior officers and an Element debit card with a daily domestic withdrawal limit of Rs. 50,000.
• YES VIJAY Exclusive: This is a salary savings account with privileges for the defence forces, such as personal accident insurance coverage up to Rs. 60 lakh, unlimited ATM access, and a daily domestic POS limit of Rs. 1.5 lakh, and YES Rewardz of up to Rs. 16,000 in the first year of opening the account.
• YES VIJAY Defence Pension Account: This is a salary account catering to the defence forces with competitive interest rates, personal accident insurance coverage up to Rs. 40 lakh, discount on locker rentals, an exclusive wealth management programme for senior officers, free Demat account opening and more.
• YES Agniveer: This account is for the defence forces and offers competitive interest rates, increased insurance coverage, a welcome offer of Rs. 16,000, and an exclusive discount on locker rental and Demat annual maintenance charges.

Current Account

Current accounts cater to businesses and companies, allowing high cash deposits and business banking solutions tailored to every stage of the enterprise’s growth.

• Freedom Flexi 25: This is ideal for local businesses, with free RTGS and NEFT, cash deposits of up to 6 times the previous month’s Annual Minimum Balance (AMB), and free standee.
• Freedom Flexi 45: This is ideal for small or medium businesses with cash deposits of up to 8 times the previous month’s AMB and free standee plus NIL OTI on one soundbox.
• Freedom Flexi 100: This is ideal for medium-sized businesses with cash deposits of up to 10 times the previous month’s AMB and free standee plus NIL OTI on POS for one terminal.
• Freedom Flexi 300: This is ideal for medium to large-sized businesses with cash deposits of up to 12 times the previous month’s AMB and free standee plus NIL OTI for two POS and rental cashback for two terminals.
• Freedom Flexi 500: This is an elite current account for large businesses with cash deposits of up to 15 times the previous month’s AMB and free standee plus NIL OTI for two POS and rental cashback for two terminals. 

Each Yes Bank savings account caters to different needs, ensuring flexibility and attractive customer benefits.

How to Open a Yes Bank Account?

Yes Bank Digital savings account can be opened online, but you will have to visit the bank to open any other type of account. Here is the process to open a Yes Bank account by visiting the bank branch:

• Visit the nearest Yes Bank branch.
• Approach the bank officials and collect the account opening form.
• Fill out the application and submit it to the bank officials along with the required documents.
• The bank officials will verify the documents and open the account.

Follow the below process for Yes Bank online account opening without visiting a branch:

• Go to the Yes Bank homepage.
• Click on ‘Accounts’ and select ‘Savings Account’.
• Click on ‘Apply Now’.
• Fill out the application and click ‘Submit’.
• Generate your account number, which you will use for all future banking transactions.
• A bank representative will contact you to verify your KYC documents and open the account.

Documents Required to Open Yes Bank Account

When applying to open a savings account with Yes Bank, you need to provide the following documents:

• Proof of address document, such as a valid driving license, passport, or voter ID card
• Proof of identity document, such as PAN card, passport, voter ID card, or driving licence
• PAN card or Form 60 (if PAN card is unavailable)
• Recent passport-sized photographs

Additional documents may be required for different account types. Thus, checking the specific requirements for the account you wish to open is important.

Eligibility for Opening Yes Bank Account

The following are the eligibility criteria to open a Yes Bank account:

• You must be at least 18 years old to open an account.
• You should be an Indian citizen or a resident of India.
• While there is no specific income requirement for most savings accounts, you may require a higher income or balance for certain salary and current accounts.

Different account types have additional eligibility criteria, so it is important to check the specific requirements for the account you wish to open.

Minimum Balance to Maintain in Yes Bank Account

The minimum balance requirement for a Yes Bank savings account varies depending on the type of account. Below is a general overview:

Important Points to Remember When Opening a Yes Bank Account

To ensure a smooth account opening process, keep these important tips in mind:

• Double-check that the name and address you provide in the application form match the details on your KYC documents.
• Verify that the email address and mobile number you enter are accurate, as the bank will use these for future communications regarding your account.
• Your account will only be activated after the bank has successfully verified your KYC documents.
• Online account opening is available exclusively for new customers. If you are already a Yes Bank account holder, you will need to visit a branch to open a new account.
• Choose a branch that is nearest to your location for convenience.

Yes Bank provides a variety of accounts to match your financial goals. Each account has numerous features that are customised for customers. Individuals meeting the required eligibility criteria can open Yes Bank accounts by visiting the bank with the required documents.

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